Md. Code Regs. 09.03.07.06

Current through Register Vol. 51, No. 12, June 14, 2024

Section 09.03.07.06 - Permissible Purposes of Consumer Reports

A. If the Commissioner finds that a person is in the business of making loans that are usurious or otherwise void or unenforceable under Maryland law or can use information in credit reports in connection with the making of loans that are usurious or otherwise void or unenforceable under Maryland law, and issues a written order to a consumer reporting agency not to furnish credit reports to that person, the consumer reporting agency shall comply with the order within 30 days of receipt of the written order.

B. If the Commissioner finds that a loan is usurious or otherwise void or unenforceable under Maryland law or that a person is in the business of making loans that are usurious or otherwise void under Maryland law, and issues a written order to a consumer reporting agency prohibiting the consumer reporting agency from including the loan in a consumer's file, the consumer reporting agency shall comply with the written order within 30 days of receipt of the written order.

Regulation .06 adopted effective 47:21 Md. R. 903, eff. 10/19/2020